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To: IceShark who wrote (3082)	7/19/1998 5:31:00 PM
From: Joseph G.	Respond to of 86076

Oh boy - looked at Azon options - more strikes than on SPX! They look not too cheap to buy, not too expensive to sell. Logically, selling naked calls is less risk than selling same number short, cause you get some premium buffer. But also less potential reward. IMO, most people get in trouble cause they sell too much, more than they would short. But at present IMO premiums' too low to sell. One possibility is to wait, and if volatility goes up - sell calls, if it goes down, buy puts. Re: ZAP - just like all suckers say: unless the market crashes, it will be OK. -g- The trick is to get out of stocks before market crashes - just that easy. -ng-